Atlassian co-founder Scott Farquhar is set to sell a large block of Atlassian shares, with reports putting the value near $760 million. Two outlets say Atlassian has confirmed he will sell more than $700 million in shares, and that the sale follows his departure from a co-CEO role a little over two years earlier.
Other outlets focus on how the share sales affect the balance between Atlassian’s billionaire founders. They note that Scott Farquhar and co-founder Mike Cannon-Brookes previously held equal stakes, but that their approaches now diverge: Farquhar is selling while Cannon-Brookes is buying up shares. One business-focused report adds the number of shares involved, saying Farquhar plans to sell nearly 3.4 million shares.
